Bar Harbor Bankshares (NYSEAMERICAN:BHB) Stock Price Expected to Rise, Keefe, Bruyette & Woods Analyst Says

Bar Harbor Bankshares (NYSEAMERICAN:BHB) had its price target upped by analysts at Keefe, Bruyette & Woods from $36.00 to $38.00 in a report released on Wednesday,Benzinga reports. The brokerage presently has a “market perform” rating on the financial services provider’s stock. Keefe, Bruyette & Woods’ price target suggests a potential downside of 0.58% from the stock’s previous close.

Separately, Piper Sandler reiterated an “overweight” rating and set a $41.00 target price (up from $39.00) on shares of Bar Harbor Bankshares in a report on Friday, June 26th. One research analyst has rated the stock with a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat, Bar Harbor Bankshares has a consensus rating of “Hold” and a consensus price target of $39.50.

Bar Harbor Bankshares Stock Down 0.1%

Bar Harbor Bankshares stock opened at $38.22 on Wednesday. The company has a current ratio of 0.94, a quick ratio of 0.94 and a debt-to-equity ratio of 0.40. Bar Harbor Bankshares has a 1-year low of $28.06 and a 1-year high of $39.67. The company has a fifty day simple moving average of $36.53 and a 200 day simple moving average of $34.53. The company has a market cap of $639.80 million, a P/E ratio of 12.91 and a beta of 0.60.

Bar Harbor Bankshares (NYSEAMERICAN:BHB) last issued its quarterly earnings results on Tuesday, July 21st. The financial services provider reported $0.92 EPS for the quarter, topping the consensus estimate of $0.90 by $0.02. Bar Harbor Bankshares had a net margin of 18.46% and a return on equity of 11.51%. The firm had revenue of $49.68 million for the quarter, compared to analysts’ expectations of $49.32 million. Research analysts anticipate that Bar Harbor Bankshares will post 3.67 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, Director Matthew L. Caras purchased 760 shares of the business’s stock in a transaction on Tuesday, April 28th. The stock was purchased at an average price of $34.68 per share, for a total transaction of $26,356.80. Following the completion of the purchase, the director directly owned 22,894 shares in the company, valued at $793,963.92. The trade was a 3.43% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 3.37% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Bar Harbor Bankshares

A number of institutional investors and hedge funds have recently modified their holdings of the company. Royal Bank of Canada grew its holdings in Bar Harbor Bankshares by 11.1% during the first quarter. Royal Bank of Canada now owns 50,501 shares of the financial services provider’s stock worth $1,490,000 after purchasing an additional 5,036 shares during the period. AQR Capital Management LLC raised its stake in Bar Harbor Bankshares by 36.6% in the first quarter. AQR Capital Management LLC now owns 10,964 shares of the financial services provider’s stock valued at $323,000 after buying an additional 2,939 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in shares of Bar Harbor Bankshares by 4.6% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 8,945 shares of the financial services provider’s stock valued at $264,000 after buying an additional 390 shares during the last quarter. Empowered Funds LLC lifted its position in shares of Bar Harbor Bankshares by 8.2% in the first quarter. Empowered Funds LLC now owns 49,544 shares of the financial services provider’s stock valued at $1,462,000 after buying an additional 3,754 shares during the last quarter. Finally, Jane Street Group LLC acquired a new stake in shares of Bar Harbor Bankshares in the first quarter valued at approximately $522,000. 54.49% of the stock is owned by institutional investors.

Bar Harbor Bankshares Company Profile

Bar Harbor Bankshares, Inc is a bank holding company headquartered in Ellsworth, Maine, and the parent of Bar Harbor Bank & Trust. The company provides a full suite of commercial and consumer banking products and services, including deposit accounts, residential and commercial lending, wealth management, treasury and cash management, and online and mobile banking solutions. Its subsidiary, Bar Harbor Bank & Trust, operates branches across Maine and eastern New Hampshire, serving both individual and business clients with a focus on community banking relationships.

With roots tracing back to the late 19th century, Bar Harbor Bankshares has built its presence along the coast of Maine, extending from Casco Bay to Downeast communities, and into neighboring New Hampshire markets.